吴说获悉，据 Delphi Digital 数据，1 月底，代币化 TradFi 占所有 Hyperliuiqd 交易量的 31.6%，而在前 一个月这个比例还不到 5%；自 12 月底以来，TradFi 的 7day 平均份额从 4.5% 上升至超过 20%；同期 Hyperliquid 的总交易量达 2,618 亿美元，金属、股指和股票市场的份额不断增长，Perp DEX 需求转向 宏观敞口的速度进程很快。 （来源：吴说） ...

Core Insights - Bitget, the largest panoramic exchange globally, achieved a trading volume growth of 45.5% year-on-year by the end of 2025, ranking sixth in the global market share of centralized cryptocurrency exchanges with a 6.4% market share [2][3]. Group 1: Company Performance - The CoinGecko report highlights Bitget's strong growth, attributed to its innovative product offerings and a robust security system that has built community trust over the years [3]. - Bitget has accelerated its transition to a panoramic exchange model, expanding its business from the cryptocurrency native market to multi-asset trading, including commodities, indices, forex, and precious metals [3][4]. - The introduction of tokenized stock futures has seen strong demand during global earnings seasons, enhancing Bitget's core advantages in liquidity for spot and derivatives trading [3]. Group 2: Market Trends - The report indicates a broader trend where users prefer platforms that offer depth, flexibility, and resilience, as trading activities increasingly encompass cryptocurrencies, macro assets, and on-chain products [4]. - As 2026 approaches, Bitget plans to continue its growth trajectory by expanding its product offerings, strengthening trading infrastructure, and investing in community trust and platform reliability [4]. Group 3: Company Overview - Bitget serves over 125 million users, supporting trading of more than 2 million cryptocurrency tokens, over 100 tokenized stocks, ETFs, commodities, forex, and precious metals [5]. - The company aims to enhance trading intelligence through AI agents, acting as a "co-pilot" for trade execution, and is engaged in strategic partnerships to promote cryptocurrency applications [5]. - Bitget leads the tokenized TradFi market, offering the lowest fees and highest liquidity across 150 regions globally [5].